Wedbush Downgrades Uber Technologies (NYSE:UBER) to Neutral

Wedbush downgraded shares of Uber Technologies (NYSE:UBER) from an outperform rating to a neutral rating in a report released on Thursday morning, Marketbeat.com reports. Wedbush currently has $85.00 price objective on the ride-sharing company’s stock, up from their prior price objective of $80.00.

UBER has been the topic of a number of other research reports. Benchmark restated a “hold” rating on shares of Uber Technologies in a research note on Friday, January 31st. KGI Securities reissued a “neutral” rating and set a $78.00 price target on shares of Uber Technologies in a report on Tuesday, March 11th. Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 price objective (up previously from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Truist Financial increased their target price on Uber Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company upped their price objective on Uber Technologies from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, April 3rd. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $92.69.

Uber Technologies Stock Performance

Shares of UBER stock opened at $82.60 on Thursday. The company has a market cap of $172.73 billion, a P/E ratio of 18.11, a PEG ratio of 0.89 and a beta of 1.43. The firm has a fifty day moving average price of $74.72 and a 200 day moving average price of $71.53. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Uber Technologies has a 12 month low of $54.84 and a 12 month high of $87.00.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. The business had revenue of $11.53 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.32) EPS. Sell-side analysts predict that Uber Technologies will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In related news, insider Tony West sold 23,404 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $70.27, for a total value of $1,644,599.08. Following the transaction, the insider now directly owns 114,241 shares of the company’s stock, valued at approximately $8,027,715.07. This trade represents a 17.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the sale, the chief financial officer now owns 21,063 shares of the company’s stock, valued at $1,790,355. This represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,904 shares of company stock worth $6,027,619. 3.84% of the stock is currently owned by insiders.

Institutional Trading of Uber Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of UBER. Navalign LLC raised its stake in shares of Uber Technologies by 0.5% in the 4th quarter. Navalign LLC now owns 25,468 shares of the ride-sharing company’s stock valued at $1,536,000 after acquiring an additional 126 shares during the period. Grove Bank & Trust grew its stake in shares of Uber Technologies by 0.9% in the first quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock valued at $1,030,000 after buying an additional 133 shares in the last quarter. Forum Financial Management LP raised its holdings in shares of Uber Technologies by 1.3% during the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company’s stock valued at $798,000 after buying an additional 136 shares during the period. CBIZ Investment Advisory Services LLC boosted its holdings in Uber Technologies by 42.1% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company’s stock worth $34,000 after acquiring an additional 138 shares during the period. Finally, Amplius Wealth Advisors LLC grew its position in Uber Technologies by 3.6% in the first quarter. Amplius Wealth Advisors LLC now owns 4,140 shares of the ride-sharing company’s stock valued at $302,000 after acquiring an additional 145 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Company Profile

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. It operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services.